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Nangang United

Nanjing Iron and Steel Company
public
Traded as :
Industry steel manufacturing
Founded
  • 1958 (predecessor)
  • 18 March 1999 (1999-03-18) (date of incorporation)
Founder Nanjing Iron and Steel Group
Headquarters Nanjing, China
Area served
China
Revenue IncreaseCN¥37.601 billion (2017)
Increase CN¥03.200 billion (2017)
Total assets Increase CN¥37.735 billion (2017)
Total equity Increase CN¥11.575 billion (2017)
Owner
(43.47%)
Parent Nangang United
Chinese name
Simplified Chinese 南京钢铁股份有限公司
Traditional Chinese 南京鋼鐵股份有限公司
Literal meaning Nanjing Steel and Iron, Company Limited by Shares
Chinese short name
Simplified Chinese 南钢股份
Traditional Chinese 南鋼股份
Literal meaning Nansteel Share
Website www.600282.net
Footnotes / references
in consolidated financial statement

Nanjing Iron and Steel Co., Ltd. (abb. NISCO) is a publicly traded steel maker based in Nanjing, Jiangsu Province, China. The parent company of NISCO is Nanjing Nangang Iron and Steel United Co., Ltd. (Chinese: 南京南钢钢铁联合有限公司), a joint venture of Hong Kong listed company Fosun International (the stake was jointly held by Fosun International and its subsidiaries) and Chinese state-owned enterprise Nanjing Iron and Steel Group in a 60–40 ratio.

NISCO involves the pressing and smelting of ferrous metals and sales of steel materials.

NISCO was a constituent of small cap SSE 380 Index from December 2015 to December 2017.

According to World Steel Association (Chinese companies data was provided by China Iron and Steel Association), the corporation was ranked the 45th in 2015 the world ranking by production volume (8.590 million metric tons).

The steel plant in Nanjing was founded in 1958. In 1999 Nanjing Iron and Steel Group spin-off some of the assembly line of the steel plant, incorporating Nanjing Iron and Steel Co., Ltd. (NISCO).

The company became a publicly traded company in 2000 on the , despite the parent company still owned 70.95% shares. However, after several disinvestment, it no longer the controlling shareholder of the listed company. Instead, the controlling shareholder was replaced by joint ventures of Nanjing Iron and Steel Group in 2003 and again in 2009 under another legal person. The direct parent company also received the unlisted steel manufacturing assets from Nanjing Iron and Steel Group.

In 2010, NISCO acquired some assets (themselves were incorporated as 南京南钢产业发展有限公司, in short 南钢发展) from the direct parent company, Nangang United, as those businesses were classified as related parties but the listed company had business relation with them. NISCO paid the direct parent company in an all-share deal for CN¥9.1 billion nominal value, making Nangang United owned 83.78% shares of the listed company.


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